Market Insights | October 2020

OCTOBER 2020 reflected a continuation of the summer market into autumn, putting sellers in a great position. With less than one month’s supply of inventory in the Stanwood and Camano Island markets, buyers must be ready to compete. The trends are leading us to believe that we may skip the typical winter slowdown this year.
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  • Camano Island inventory is down 41% from this time last year, Stanwood is down 39%
  • Homes Sold YTD on Camano Island is down 4%, but up 15% in Stanwood
  • Average Sales Price is up in both markets. 16% on Camano Island and 7% in Stanwood year over year

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Supply and demand continue to drive the Stanwood and Camano Island real estate market. Record low-interest rates have increased purchasing power.

Open house traffic has increased since the Governor opened guidelines to all counties in early October. Open houses are limited occupancy with strict adherence to required safety guidelines.

At Windermere, our attention to the local market, dedication to the community, and commitment to our clients is why we sell more real estate in Stanwood and Camano Island than any other company.

We are all in, for you.

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Marla Heagle
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Windermere Real Estate Designated Broker | REALTOR®

Owner, Windermere Stanwood & Camano Island

marla@windermere.com

360-387-HOME

windermerestanwoodcamano.com

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Posted on November 13, 2020 at 9:35 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

The Q3 2020 | Western Washington Gardner Report

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.

 

REGIONAL ECONOMIC OVERVIEW
Employment numbers in Western Washington continue to improve following the massive decline caused by COVID-19. For perspective, the area shed more than 373,000 jobs between February and April. However, the recovery has been fairly robust: almost 210,000 of those jobs have returned. Unemployment levels remain elevated; the current rate is 8.2%. That said, it is down from 16.6% in April. The rate, of course, varies across Western Washington counties, with a current low of 7.2% in King County and a high of 11.2% in Grays Harbor County. The economy is healing, but the pace of improvement has slowed somewhat, which is to be expected. That said, I anticipate that jobs
will continue to return as long as we do not see another spike in new infections[…]

 

READ THE FULL REPORT HERE

 


Posted on October 28, 2020 at 10:01 am
Windermere Stanwood Camano | Posted in Community, Housing Trends, Market Insights |

Market Insights | September 2020

 

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SEPTEMBER 2020 remained a strong Seller’s market with record low inventory in the Stanwood and Camano Island markets.

  • Camano Island inventory is down 46% from this time last year, Stanwood is down 40%
  • Homes Sold YTD on Camano Island is down 13%, but up 8% in Stanwood
  • Average Sales Price is up in both markets. 16% on Camano Island and 9% in Stanwood year over year

We are continuing to see urban flight – families, professionals, and retirees leaving the more populated areas and heading this way. The median sale price in King County is $698,230, but it is $510,000 on Camano Island and $480,000 in Stanwood. This affordability factor bodes well for first time home buyers and those wanting to upsize or downsize.

There have been 31 sales YTD in the “luxury” market based on selling prices of $1 million and above. A year ago, there were 20 sales in this category.

At Windermere we are all in, for you. Our attention to the local market, dedication to the community, and commitment to our clients is why we sell more real estate in Stanwood and Camano Island than any other company.

Marla Heagle
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Windermere Real Estate Designated Broker | REALTOR®

Owner, Windermere Stanwood & Camano Island

marla@windermere.com

360-387-HOME

windermerestanwoodcamano.com

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Posted on October 15, 2020 at 9:34 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | August 2020

 

August 2020 Market Insights

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Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here in Stanwood and Camano Island. That’s why I prepare a hyperlocal report every month. Take a look at the latest monthly insights for Stanwood and Camano Island.

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Our August report shows pending sales surged 36% on Camano Island and 78% in Stanwood from a year ago. With only 14% more listings added in the combined Stanwood/Camano Market, the high volume of new pending sales is outpacing new listings, leaving inventory at a 20-year low.

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As of last week, Camano Island and Stanwood had 91 active listings. 39 on Camano and 52 in Stanwood. This number is down 51% from last year when active listings totaled 178 in mid-September. This is causing the months of inventory to continue to shrink.

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What does this mean to Buyers? To be successful in purchasing a home in today’s climate, you must be willing to do some things that seem counterintuitive. Things like paying more than the house is worth, waiving home inspections, and agreeing to pay the difference in cash between a lower appraised value and the sales price.

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What does this mean to Sellers? With historically low-interest rates, very few homes for sale, and less than a month of inventory in both the Stanwood/Camano markets, we think that anytime in the next two months will be a great time for you to list and sell your home

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Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, send me a note! We look forward to continuing to serve you!

 

.Our team is here to help you. With the restrictions put in place by the COVID-19 pandemic, we’ll continue to implement best practices to keep you and our team members safe by wearing masks, practicing social distancing, and taking added precautions when showing or visiting homes.

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Posted on September 16, 2020 at 11:37 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | July 2020

 

July 2020 Market Insights

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With buyers continuing to leave the city for a suburban/rural lifestyle, we are seeing record low inventory in Stanwood and Camano Island. Currently, in Stanwood, we have 129 pending sales and 47 active listings, creating an all-time high pending ratio of 274%. Camano isn’t far off with 72 pending sales and 46 active listings, creating a 157% pending ratio.
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We also measure months of inventory for both Stanwood and Camano. We have 27 days of inventory available, meaning if we stopped listing homes today, it would take 27 days to run out of inventory based on our current volume of closed sales. This has created what is called “activity intensity”, with the majority of homes selling within the first 30 days of hitting the market. If you are a buyer or seller, be ready to act quickly.
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As home buyers and sellers have adjusted to the restrictions put in place by the COVID-19 pandemic, Our team is here to help you. We’ll continue to implement best practices to keep you and our team members safe by wearing masks, practicing social distancing, and taking added precautions when showing or visiting homes.
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Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, send me a note! We look forward to continuing to serve you!

Posted on August 19, 2020 at 2:17 pm
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | June 2020

 

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June 2020 Market Insights

 

If I could sum up the month of June in two words they would be Multiple Offers! While this isn’t the case in every listing, we are seeing a much higher percentage than recent history. This could be attributed to the low inventory and very high buyer demand.
Stanwood and Camano Island are so close in proximity, yet their market reports tell two different stories. Both Stanwood and Camano Island have very limited inventories, with less than 2 months each, Camano Island has 39% less in inventory than last year, yet the average sales price rose substantially by 14%. Average sales prices are going up for two reasons, we have sold more high-end homes this year than last, as well the demand for homes has increased. Stanwood has 26% less in inventory than last year, with the average sale price rising 12%.
As home buyers and sellers have adjusted to the restrictions put in place by the COVID-19 pandemic, I want to assure you that our team is here to help you. Just last month, we sold 53 homes! Now with Island County in phase 3, we’re excited to offer Open Houses in Camano Island. Snohomish County is currently in phase 2, and our Stanwood office is open by appointment only. We’ll continue to implement best practices to keep you and our team members safe by wearing masks, practicing social distancing, and taking added precautions when showing or visiting homes.
Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, send me a note! We look forward to continuing to serve you!

View Camano Island Report

View Stanwood Report

 


Posted on July 16, 2020 at 9:08 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | May 2020

 

Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information. 

 

Subscribe to Market Insights here!

 

 


May 2020 Market Insights

 

Despite the economic downturn stemming from COVID-19, key indicators suggest that the Stanwood market is turning in a positive direction. The volume of new listings rose 10 percent, pending sales jumped 71 percent, and the average sale prices increased 10 percent. Camano Island saw a 16 percent increase in the average sale price, but the year-over-year number of new listings fell 47 percent and pending sales dropped 25 percent. 

 

Both Stanwood and Camano Island have very limited inventories – less than 2 months each – and I expect there will be an increased demand in our area as people move away from the cities in the future. The accessibility, sense of community, and outdoor recreation will make Stanwood Camano a top choice for home buyers moving forward!

 

As home buyers and sellers adjust to the restrictions put in place by the COVID-19 pandemic, I want to assure you that our team is here to help you. Just last month, we sold 28 homes! Now with both Island and Snohomish counties in phase 2, we’re excited to welcome you back to our offices! We’ll continue to implement best practices to keep you and our team members safe by wearing masks, practicing social distancing, and taking added precautions when showing or visiting homes.

 

Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, send me a note! We look forward to continuing to serve you!

View Camano Island Report

View Stanwood Report

 


Posted on June 18, 2020 at 3:19 pm
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | April 2020

 

Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information. 

 

Subscribe to Market Insights here!

 

 


April 2020 Market Insights

 

As we continue to adapt to our new normal, I wanted to take this opportunity to share some of the trends we’re seeing in Stanwood and Camano Island real estate.

 

Let’s start with April’s stats! The local market took a hit but wasn’t knocked out – the number of new listings, pending sales, and closed sales decreased but prices increased an average of 17 percent. We also had higher rates of engagement on our virtual home tours, which shows that buyers, sellers, and Realtors® are adopting new tools to keep moving forward through COVID-19.

 

Looking ahead, some of the lasting effects of COVID-19 might include:

 

  • More businesses that choose to operate remotely, which could mean more people living in suburban areas like Stanwood and Camano Island rather than large cities
  • Streamlined real estate processes with the help of digital tools for contracts, notaries, and even home tours
  • A shift in what buyers are looking for, like more spacious homes or more outdoor living spaces

 

As always, we are here to help you navigate these changes and trends! Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, contact us! We look forward to continuing to serve you!

View Camano Island Report

View Stanwood Report

 


Posted on May 19, 2020 at 3:06 pm
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | March 2020

Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information. 

 

Subscribe to Market Insights here!

 


March 2020 Market Insights

 

The COVID-19 pandemic continues to shape our lives and our economy, but we will continue to work tirelessly to help our clients move their lives forward during these uncertain times. Our homes are more important than ever before – providing tangible value while the stock market fluctuates, and acting now as our shelters, schools, offices, gyms, and more as we all take steps to curb the spread of COVID-19.

 

A quick look at the numbers shows that market conditions still seemed to favor sellers in March, which is common this time of year with limited supply and high demand. Pending sales decreased as expected but average sales prices are up over last year in both Stanwood and Camano Island. We’re also adapting our business practices to keep our clients and our team members safe at this time. According to the Governor’s order, real estate brokers are able to take new listings and send contracts electronically, and arrange for appraisals and inspections to be conducted as needed. Realtors® are also allowed to show listings with strictly limited group sizes, and we’ll continue to implement best practices to keep all parties safe.

 

Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, please contact us! We look forward to continuing to serve you!

View Market Insights

 


Posted on April 14, 2020 at 11:50 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | February 2020

 

Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information. 

 

Subscribe to Market Insights here!

 

 


February 2020 Market Insights

 

The spring is one of the busiest times in real estate; just last week we listed 7 new properties and had another 14 move to pending. In February, Stanwood and Camano Island were sellers’ markets with strong active-to-pending ratios, low average time on the market, and a higher average sale price than last year.

 

Typically, we look at past numbers to predict trends for upcoming months. However, we understand that this is a time of relative uncertainty as the situation with the COVID-19 pandemic continues to evolve. One resource we rely on to provide up-to-date market information and insight is Windermere’s Chief Economist, Matthew Gardener. Watch a short video below in which Matthew leverages his decades of expertise to predict how the housing market may briefly contract and soon recover from this global pandemic with lower interest rates and a limited supply of listings.

 

We will continue to monitor the situation and work tirelessly for our clients. In addition to frequent handwashing, thorough cleaning, and good hygienic habits in our offices, we will implement best practices to keep our clients healthy and safe as we continue to work with Buyers and Sellers.

 

Take a look at the full report for Stanwood and Camano Island and, if you have any questions, send me a note! We look forward to continuing to serve you!

 

Download Market Insights

 


Posted on March 14, 2020 at 8:38 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |